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# You are due a $750 paycheck at the end of the week (Friday), but want to get your hands on the cash on Monday. A payday lender offers to make this deal with you for a fee of 2% of the paycheck. What i

You are due a $750 paycheck at the end of the week (Friday), but want to get your hands on the cash on Monday. A payday lender offers to make this deal with you for a fee of 2% of the paycheck. What is the rate you are paying for this service? Assume a 365-day year.